Finance

Now that the summer is here, it is also a time to think about ways of saving energy. Even though summer can be an unbearable time in terms of comfort, there are things we can do to take care of ourselves and be comfortable, like turning on the air conditioner. Believe it or not, when it is hot, the way to cool down your body is to actually drink something hot, not cold! But the cold beer is just too good to pass up!

Let’s face it: guaranteed investment certificates (GICs) have not been sexy over the last decade.

With interest rates below historical norms, FAANGs taking a huge bite out of the market, and crude oil skyrocketing from $30 to $75 in just a couple of years, why would you waste your time with GICs?

Well, not everyone is so concentrated on the business headlines, and many people lack the time and energy to peer through corporate quarterly earnings. This is why GICs are superb investment tools because you still have your money working for you as long as inflation remains in check, and you won’t need to be fixated on the Toronto Stock Exchange (TSE).

Since the Bank of Canada (BOC) is normalizing interest rates, you can get a better-than-normal return. It may not be as great as it was in the 1980s when GIC rates were in the double-digits, but it’s better than what you have been getting in recent years.

Here are five reasons to pick GICs as your investment in today’s market environment:

Business loans can be very useful in a venture, especially in the absence of funds for growth and development. A business loan can be used by small businesses to unlock growth that couldn’t otherwise have occurred without the capital input.

We all know that maintaining a decent credit score involves paying your credit card bills on time, but there are many other factors that could contribute to a poor credit rating. The score ranges from 300 to 850. To achieve a solid rating, you will need to score a number higher than 650. A poor credit rating will typically fall below 620. To keep your credit rating at a good level, look out for the following factors that could potentially harm your rating: